Dear Network Marketer:
I hope you are happy, healthy and well. Here is this week’s edition of Chuck’s MLM Weekly Wisdom. Enjoy!
# 1 Quote of the Week
My quote of the week this week is “your long distance lines are your strongest ones.” Randy Gage
My take on this is that people who are long distance from you are forced to take responsibility for their own network marketing business. You aren’t there to coddle them or baby them or do everything for them. This forces them to become a leader if they want to build a successful business of their own.
# 2 Three Feet from Gold
If you’ve spent any time in this industry, you’ve probably heard the old adage “three feet from gold.” This is a saying referring that many people give up just a few feet before striking gold. Many folks are so close to hitting gold, but they allow their frustrations and setbacks to influence them to quit the business.
I’ve learned from personal experience that when things get tough, you need to keep pressing forward. When you are going through a “dark” or “disappointing” period of time, it means there is something good right around the corner. Nothing worth accomplishing is fast, easy or free. Good things take time.
You must do the work and sort through a lot of dirt to find your gold. And remember, there are four aces in every deck, but you never know when they will show up. Work the numbers and the numbers will work themselves out.
# 3 Book of the Week
My book of the week this week is “How to Make Big Money in Multi-Level Marketing” by David Roller. I absolutely love this book. It’s an old, out of print book that is loaded with great wisdom and tips. I learned about it while searching Amazon and bought it for just one cent plus shipping. Overall, I give it an 8 of 10. If you would like to read my review of the book, check out this link and see for yourself.
# 4 Today in History
May 6, 1954 – Roger Bannister becomes the first person to run the mile in less than four minutes.
# 5 What to Look for in a Prospect
People ask me all the time, “What should l look for in a prospect?” In other words, what qualities does a good prospect have? My typical response is to look for people who are already successful in life, who have some disposable income, have a large sphere of influence, are respected by their peers and are looking to make some changes in their lives. I’ve found that people who need the business seldom join or build, but the people who WANT to do the business typically do very well.
All that being said anyone can be successful in the business. At the end of the day, it’s the DESIRE the person has that matters most. You never really know who will join and who will build. You should really give everyone the chance to learn about the products and business opportunity and decide for themselves. Study most top earners and the only thing you will find that they all had in common is that they wanted to change their life for the better and they were willing to do the work.
The bottom line is talk to everyone. Never prejudge people. You never know who will be your next ace!
# 6 Width or Depth?
Should you go wide (personally sponsored) or should you go deep (depth)? Let me begin by telling you that width gives you immediate profitability in your business and depth gives you long-term security. If I had to choose between the two I would choose DEPTH every time. Depth is what gives you the long-term security and walk away income.
If your organization is only one to three levels deep, you will never have long-term residual income. The true leaders and top earners in our industry typically have 3-5 legs (lines) in their group that are 50, 100, even 200 levels deep. Each leg has tons of leaders, which gives the distributor long term security and profitability.
In order to build depth, you’re going to have to build your width first. You’re going to have to sponsor a lot of people to find your three to five leaders. In most cases, you’ll have to sponsor 50 to 100 (or more) people to find these leaders.
When you find someone who really wants to do the business and is willing to do the work, you want to shift your efforts and help them build a team. Help them sponsor a few people and then pick one of those new people and help them do the same thing. Keep repeating this process over and over in each leg of your organization and never stop. Do that in a few legs of your group and you will have an enormous team that provides you a walk away income.
# 7 Featured Blog Posts
Here are a few trending posts on my website this week:
# 8 Having Competitions with Your Team
I love the idea of having friendly competitions in your team. Each month you should have some type of contest or competition to help motivate your distributors. There is nothing like a friendly competition to do that. You should have a competition where more than one person can win. You should also have a grand prize winner.
Make your competition doable, but make people stretch a little bit as well. Keep in mind that most people on your team are part-timers. For example, you could have a prize for anyone who sponsors 2 or more people in a month and a grand prize for the top sponsor. Even if just 5 to 10 percent of your team participated in your competition, I think you would see big results.
Examples for your competition could include: retail sales, plans given, people prospected, people sponsored, etc. You are only limited to your creativity. Come up with a good prize that doesn’t cost you too much money, but has a good perceived value. Examples of prizes might include free products, gift cards, a cash bonus, a training course, or whatever else you can think of.
The bottom line is that competitions are a great way to motivate your team.
# 9 Must Watch Videos
Here are a few YouTube videos that I thought you would enjoy. These are part of Mike Dillard’s 7 day Boot Camp. These videos changed my life when I first watched them several years ago. Enjoy.
# 10 What to Do When People Quit
What should you do when people quit your team? REPLACE THEM. People quit for a variety of reasons. In most cases, there is little you can do about it. If no one is quitting your team, you aren’t doing much to grow your business.
That being said, if a lot of people are quitting your team quickly, you might want to evaluate a few areas. For example, what are you doing to help your team members get started right? What type of initial training do you provide? What type of support do you provide? If you are weak in these areas you might want to make some adjustments, so you can minimize attrition. Having a system, culture and team support are vital.
Depending on your company, attrition can be as high as 75% per year. That’s a lot, and it can be very frustrating.
I think it’s important to give people realistic expectations before you sponsor them. Let them know this will not be fast or easy money. In addition, I think it’s also good to be product focused and to sponsor people who are excited about the products, not just the business. Doing these two things will also help minimize attrition.
Thanks for reading this week’s issue of Chuck’s MLM Weekly Wisdom. I hope you enjoyed it. If you have questions or need help with anything, feel free to give me a call or send me an email. Have a great week.
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Chuck HolmesWebmaster, OnlineMLMCommunity.com
Phone: (352) 503-4816
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